Chase Ultimate Rewards® is one of the most popular credit card rewards programs for frequent travelers, and with good reason. Several Chase credit cards earn Ultimate Rewards® points and offer very flexible redemption options, including 1:1 point transfers to 14 airline and hotel partners.
Read on to learn how you can earn Chase Ultimate Rewards® points, what points are worth and what the best rewards redemption options are.
| Chase Ultimate Rewards® quick facts | |
|---|---|
| Earning points | Earn points with personal and business credit cards. Cards that earn points include the Chase Sapphire Reserve®, Chase Sapphire Preferred® Card, Chase Freedom Flex℠ and the Ink Business Preferred® Credit Card. |
| Redeeming points | Redeem for cash back (1 cent per point), gift cards, merchandise, Pay with Points, travel through Chase or 1:1 point transfers to travel partners |
| Point value | 2 cents each when transferred to travel partners |
| Transfer partners | 11 frequent flyer programs and three hotel loyalty programs, including Southwest, United and Hyatt |
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Browse our top picks for the best Chase credit cards of 2024.
Chase Ultimate Rewards® points are valuable and versatile. We estimate points are worth around 2 cents apiece on average when transferred to a Chase travel partner.
However, the value of your points will depend on which card you have and how you redeem your points:
| Form of redemption | Value |
|---|---|
| Cash back | $10 |
| Gift cards | $10 |
| Travel on Chase TravelSM portal | Up to $15 (depending on card) |
| Transfer to loyalty program | $20 |
| Pay with points on Amazon.com and PayPal | $8 |
The Chase Ultimate Rewards® program offers high-value, flexible redemption options, including 1:1 point transfers to major travel partners. While there are comparable programs from American Express, Capital One and Citibank, Chase Ultimate Rewards® has a consistently higher cash back redemption rate than other programs, which means you get the advantage of high-value travel redemptions combined with the consistency of cash back redemptions.
What we like about Chase Ultimate Rewards®:
You can earn and redeem Chase Ultimate Rewards® with many cards. However, to transfer points to Chase travel partners, you’ll need the Chase Sapphire Reserve®, Chase Sapphire Preferred® Card or Ink Business Preferred® Credit Card.
You might also prefer a cash back card with no annual fee and more straightforward redemption options. Each type of card has its own advantages.
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The Chase Sapphire Preferred® Card will set you back $95 per year, but you can earn a welcome bonus that can cover that fee for years. Points can transfer to airline and hotel partners for premium travel redemptions, and you get 25% more value when redeeming points through the Chase TravelSM portal.
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While the Chase Sapphire Reserve® has a $550 annual fee, it’s outweighed by its many premium travel benefits. If you use the $300 annual travel credit, fee credit for Global Entry, TSA PreCheck or NEXUS membership and Priority Pass™ Select airport lounge membership, it makes up for the annual cost. On top of that, you can earn a generous sign-up bonus.
You’ll also get a 50% points bonus when you redeem rewards through Chase Travel, or you can transfer points to airline and hotel partners. Plus, this card also features premium travel insurance benefits, including primary auto rental coverage.
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Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.The Chase Freedom Flex℠ is the best option for cardholders who love to maximize their rewards each quarter (just remember to activate your quarterly bonus categories!). Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter. Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
The card also comes with an intro APR offer for purchases and balance transfers, as well as additional benefits like cellphone protection and trip cancellation/interruption insurance.
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The Chase Freedom Unlimited® lets you earn unlimited rewards, including a 1.5% flat rate on all your purchases. Enhanced earning categories include 5% cash back on travel purchased through Chase Travel and 3% cash back on drugstore and dining purchases, including takeout and eligible delivery services. Cardholders get a 15-month 0% intro APR for purchases and balance transfers, as well as a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
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Business travelers can benefit from the Ink Business Preferred® Credit Card’s generous welcome offer and high earnings on business purchases. Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases-with no limit to the amount you can earn.
With its $95 annual fee, you’ll get free employee cards and travel and purchase protections — these include primary rental car coverage (when renting a car for business purposes), trip cancellation and interruption insurance and cellphone protection.
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The Ink Business Cash® Credit Card offers superb cash rewards on business purchases for a $0 annual fee. Cardholders Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.This business credit card also includes free employee cards and an introductory APR for purchases.
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The Ink Business Unlimited® Credit Card keeps things simple, with unlimited 1.5% cash back on every purchase made for your business. There’s no annual fee, and new cardholders can get an intro purchase APR. Other perks include free employee cards, primary rental car coverage when renting a car for business purchases, purchase protection and extended warranty protection.
Found a card you’re interested in? Learn more about how to apply for a credit card to improve your chances of being approved.Before you apply for any of these cards, you should be aware of the Chase 5/24 rule — it’s an unwritten rule that prevents you from opening more than five credit cards within the past 24 months. If you’ve opened too many cards recently (from any issuer), you won’t be able to open a new Chase card (or earn the sign-up bonus on that card).
Chase’s Refer-A-Friend program allows you to earn points if your friend gets a Chase card. Share a customized referral link with your friends, and if they get an eligible card from that link, you’ll earn a bonus.
| Card | Earning potential |
|---|---|
| Chase Freedom® credit cards | Can earn up to $50 per referral, up to $500 per year |
| Chase Sapphire® credit cards | Can earn up to 10,000 points per referral, up to 75,000 points per year |
| Chase Ink cards® credit cards | Can earn up to 40,000 points per referral, up to 200,000 points per year |
Chase offers special promotions and points-earning rates from time to time. To maximize your Ultimate Rewards points, keep an eye on your email and your Ultimate Rewards account for these promotions.
You should also keep an eye on the sign-up bonus for your card for the first 90 days after you sign up. If the offer increases, you can call and see if Chase will match the new bonus amount.
Purchasing gift cards can help you to earn additional points on purchases that otherwise wouldn’t qualify for an increased earning rate — just make sure you’ll be eligible for points before you purchase gift cards with your credit card.
For example, Ink Business Cash® Credit Cardholders can earn 5 points per dollar on Staples purchases. Staples, an office supply store, sells gift cards to places that aren’t normally covered by the card’s bonus categories, like restaurants.
You can earn points by using the online shopping portal, Shop Through Chase. If you have a big purchase coming up, you can get anywhere between 1 to 15 extra points per dollar depending on the store. The mall, or online shopping portal, includes more than 500 participating stores with brands like Macy’s, Best Buy and more.
Clicking on one of the stores takes you to their respective online portals, where you can complete your purchase as usual. But be careful that you don’t close the merchant’s website — if you do, you’ll have to go through the Chase portal again to get the extra points.
Generally speaking, you’ll get the most value by redeeming Ultimate Rewards for travel. You can redeem points through the Chase TravelSM portal or transfer your points to Chase’s travel partners.
Redeeming your points for travel through the Chase TravelSM portal is one of the best ways to get the most value out of your Ultimate Rewards, especially if you have a Sapphire card to boost your points 25% or 50%. Compare market-rate hotel and airline cash prices with the cost in points through the portal. Try to get a rate of at least 1 cent per point, or more if you have a Sapphire card.
Transferring to Chase travel partners can provide excellent value. While the redemption rate varies, savvy shoppers can get more from their points by transferring to high-value partners at a 1:1 ratio.
For example:
No, Chase points don’t expire as long as your account remains open. However, you’ll forfeit your points if you violate the terms of the Rewards Program Agreement — this includes things like fraudulent activity, bankruptcy and failure to pay.
Yes, you can have multiple Chase credit cards at the same time — and you can even pool points.
Yes, you can transfer your Ultimate Rewards points between your own accounts or to the account of an authorized user in your household. You can transfer between Ultimate Rewards accounts, or you can transfer Ultimate Rewards points to an eligible person’s partner program account (for example, moving your Ultimate Rewards to your spouse’s Marriott Bonvoy account).
Chase’s travel, cash back and business cards earn Chase Ultimate Rewards® points. These include: Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, Chase Freedom Unlimited®, Chase Freedom Flex℠, Ink Business Preferred® Credit Card, Ink Business Elite®, Ink Business Unlimited® Credit Card and Ink Business Cash® Credit Card. Chase co-branded cards do not earn Ultimate Rewards®.
The information related to the Chase Freedom Flex℠ has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
